Geneva-based boutique Decalia Asset Management pursues its fast development, having reached €2bn of assets under management last summer.
The company, which now counts 30 employees, currently runs nine strategies of which seven are Ucits-compliant and the two remaining are non-Ucits (hybrid capital, real estate).
The investment funds of Decalia AM focus on four major themes: the disintermediation of the banking sector, the quest for yield, inefficiencies in Europe and new consumer trends.
Next year will see a boost in the evolution of the Swiss manager as the company will launch new funds, look at new markets and consider opportunities of external growth.
Speaking to InvestmentEurope, Xavier Guillon (pictured), partner at Decalia AM, says : “The first part of Decalia AM’s development was focused on building an investment process and drawing talented managers to the firm. We will now focus more on our commercial development.”
“We started with our primary market, Switzerland, before looking at other countries. We have launched marketing campaigns to present our strategies in the French and Italian-speaking parts of Switzerland. We will do it in the German-speaking areas of the country starting in the first quarter of 2017,” he adds.
Also Decalia AM is in the process of registering its funds in Italy and has plans to target another market in 2017 with which the firm has “cultural and linguistic connections.”
“New liquid alternative strategies are currently incubated (non-Ucits). We will launch them in the first half of 2017,” Guillon explains.
Decalia AM is looking to expand its activities in Europe and currently assesses alternative ways to develop its wealth management and institutional asset management businesses.
The firm eyes an acquisition in the United Kingdom since a year but the purchase has been put in stand-by because of the Brexit vote.
“We are still interested in making this transaction but we need more clarity on the future of Britain’s fund regulatory environment if Brexit really occurs,” Decalia AM’s partner says.
“Regardless of challenges created by Brexit, most of the fund management expertise will remain in London. If Brexit does actually happen, the European fund industry will face higher cost of operation and may come back to a set-up of the 1980s when marketing and distribution were completely decentralised across Europe,” Guillon highlights.
It is also understood new hires will be announced soon by Decalia AM including that of a European equity portfolio manager.
“There is currently very few appetite for European stocks as consensus remains negative on the asset class. The good news is that Europe is currently seeing stronger earnings revisions than the US and some strategists are warming up to the region again. We expect a return to positive flows in this asset class in 2017,” concludes Guillon.
Decalia AM was established by Isabella Pedrazzini and Gabriel Gumener in March 2013 before Alfredo Piacentini, partner and general manager of Decalia AM, bought the company in May 2014 and recapitalised it.